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What is the budgeted balance

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Question - Caba Corporation's sales budget for the first half of the year is as follows:

                        Budgeted Sales

January             $ 115,000

February           $ 198.000

March               $ 220,000

April                 $ 250,000

May                  $ 210,000

June                 $ 290,000

Total:               $ 1,283,000

Sales are 30% cash and 70% on account. Sales on account are to be collected over a three-month period, with 20% collected in the month of the sale, 65% collected in the first month following the sale, and 15% collected in the second month following the sale. What is the budgeted balance in the Accounts Receivable account as of June 30?

a. $184,450

b. $263,500

c. $249,400

d. $232,000

Reference no: EM131619583

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